TrustCo Bank Corp NY (NASDAQ:TRST) Shares Cross Above 200 Day Moving Average – Should You Sell?

TrustCo Bank Corp NY (NASDAQ:TRST)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $43.49 and traded as high as $48.89. TrustCo Bank Corp NY shares last traded at $48.41, with a volume of 101,861 shares traded.

TrustCo Bank Corp NY Price Performance

The stock’s fifty day moving average is $45.49 and its 200-day moving average is $43.60. The stock has a market capitalization of $845.68 million, a P/E ratio of 14.19 and a beta of 0.60.

TrustCo Bank Corp NY (NASDAQ:TRST) last issued its quarterly earnings data on Tuesday, April 21st. The bank reported $0.91 earnings per share for the quarter. TrustCo Bank Corp NY had a return on equity of 9.21% and a net margin of 22.42%.The business had revenue of $49.55 million for the quarter.

TrustCo Bank Corp NY Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 6th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, March 6th. TrustCo Bank Corp NY’s dividend payout ratio (DPR) is presently 44.57%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TRST. Cubist Systematic Strategies LLC raised its stake in shares of TrustCo Bank Corp NY by 49.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 4,183 shares of the bank’s stock valued at $128,000 after acquiring an additional 1,380 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of TrustCo Bank Corp NY by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,036 shares of the bank’s stock worth $336,000 after purchasing an additional 468 shares during the period. Jane Street Group LLC bought a new position in shares of TrustCo Bank Corp NY in the first quarter worth about $560,000. Intech Investment Management LLC increased its stake in shares of TrustCo Bank Corp NY by 374.2% in the first quarter. Intech Investment Management LLC now owns 52,640 shares of the bank’s stock worth $1,604,000 after purchasing an additional 41,540 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of TrustCo Bank Corp NY by 2,435.5% in the second quarter. EverSource Wealth Advisors LLC now owns 786 shares of the bank’s stock worth $26,000 after purchasing an additional 755 shares during the period. 68.57% of the stock is owned by institutional investors.

TrustCo Bank Corp NY Company Profile

TrustCo Bank Corp. NY (NASDAQ: TRST) is a bank holding company headquartered in Glens Falls, New York, that provides a full suite of community banking and financial services primarily across upstate New York and western Massachusetts. Through its wholly owned subsidiary, Trustco Bank, the company offers deposit products such as checking and savings accounts, as well as consumer, residential mortgage, and commercial lending solutions. Additional services include wealth management, trust administration, and insurance products tailored to the needs of individuals, businesses and nonprofit organizations.

Founded in 1902 as the Glens Falls Trust Company, TrustCo Bank has grown steadily through organic branch expansion and acquisitions of locally based banks.